Angola postpones $1.5 bln Eurobond due to weak economy: source - CNBC Africa

Angola postpones $1.5 bln Eurobond due to weak economy: source

Southern Africa

by Reuters 0

Angola postpones $1.5 bln Eurobond due to weak economy: source. PHOTO: Wikipedia

Angola has delayed plans for a $1.5 billion Eurobond due to challenging economic conditions and has not set a new time frame for the issue, a finance ministry source said on Wednesday.

Angola was due to hold a Eurobond roadshow between Sept. 25 and Oct. 5 but it was cancelled after sub-Saharan Africa's third largest economy was hit by subdued oil prices, including a sharp devaluation of the kwanza currency, the source said.

The finance ministry declined to comment officially.

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